Land and Buildings Transaction Tax (Scotland) Act 2013 section 34

Return or further return in consequence of later linked transaction

Section 34 deals with the obligation to file a return or further return for an earlier transaction when a later linked transaction changes the tax position of that earlier transaction.

• When a later linked transaction causes an earlier transaction to become notifiable, or triggers additional or new LBTT liability on that earlier transaction, the buyer must submit a return or further return for the earlier transaction.
• The return must be filed within 30 days beginning the day after the effective date of the later linked transaction.
• The return must include a self-assessment of the additional tax chargeable as a result of the later linked transaction, calculated using the tax rates and bands that were in force at the effective date of the earlier transaction — not the rates at the time of the later transaction.
• This filing obligation for the earlier transaction is separate from, and does not replace, any requirement to file a land transaction return for the later linked transaction itself.

---